What is a neobank?

Somewhat of a misnomer, neobanks typically are not banks. Neobanks are financial technology (fintech) companies that partner with a sponsor bank to offer banking services digitally. Instead of interfacing with the sponsor bank and going in person to fill out paperwork, property investors can use Nophin's neobank to handle banking needs.

Why use a neobank?

Neobanks are built and reimagined for a digitally native generation. Larger banks are typically slow to process documents and offer little flexibility if you move out of the service coverage area. Neobanks, on the other hand, typically don't have a physical branch and thus offer characteristically similar products at your fingertips.

Additionally, since neobanks don't have physical offices and associated overhead, neobanks usually offer far lower fees and more benefits. Nophin is a software technology company that offers smarter features that work tightly with the banking tools to automate property finances.

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